Joe Biden Orders Ousting Of China-Backed Crypto Mining Firm Near US Missile Base

Updated: 14 May 2024

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US President Joe Biden issued an order preventing a China-linked crypto mining company from operating close to an Air Force base in Wyoming, citing national security risks.

“There is credible evidence that leads me to believe that MineOne Partners Limited, a British Virgin Islands company ultimately majority owned by Chinese nationals […] might take action that threatens to impair the national security of the United States,” the May 13 order said.

MineOne now has 120 days from the date of the order to sell the property near the nuclear missile base, which is less than a mile away. The order has also specified that the firm is not permitted to transfer the property to third parties.

“Today’s divestment order underscores President Biden’s steadfast commitment to protecting the United States’ national security,” Treasury Secretary Janet Yellen said.

Microsoft Raised Some Red Flags Regarding Crypto Mining By MineOne

MineOne Partners acquired the property in 2021. It then made room for its mining equipment, the Treasury Department said in a May 13 statement.

Microsoft, which has a data center nearby, raised concerns in the past about the crypto mining site. Chinese officials could “pursue full-spectrum intelligence collection operations,” the tech giant reportedly wrote in an August 2022 report to the Committee on Foreign Investment (CFIUS).

I love@ZentryHQ
President Joe Biden has issued an order blocking MineOne, a majority Chinese-backed crypto mining firm from owning land near a strategic nuclear missile base in Wyoming due to security concerns. #zentry Zentry $ZENT

— helee (@Mohamme0491400) May 14, 2024

This prompted CFIUS to perform an investigation. It then identified national security risks that included surveillance threats flagged by Microsoft, leading to the recent order.